Oh boy I can’t wait to see the future of every person under 65 and with a net worth below $100 million get basically vaporized from space. I can’t wait to be the bailout source for this… Although I don’t think there’s enough money in existence to bail this one out.
with a net worth below $100 million
Far fewer than you’d think, once hyperinflation kicks in.
You’ll be lucky if you can buy gum for less than $100M at the rate we’re climbing.
I am selling a used piece of gum for cheap: only $50 million! Buy now while supplies last.
Well now hang on. Lets not get ahead of ourselves here. We have discuss some core primary facts about this gum before we can determine value.
First off, what brand gum? How much flavor is left? Does it still have enough consistant texture to blow bubbles? You can’t just leave these things up in the air.
Seattle is gunna have a booming economy of prospectors scavenging the gum wall
Don’t worry about that.
I’ll lend you the $50M for the gum if you agree to buy $50M of my stuff in the future.
It’s 5 gum.
They’re such money pits that they can’t be bailed out - give them a hundred billion dollars and they’ll be back next month for more.
They aren’t a functioning business that just needs help getting back to profitability or help with some sort term crisis, they take hundreds of billions and set it on fire.
And deciding whether to bail them out is going to be like the onions video on America’s money hole where the debate is how much money to throw into the hole to be burned instead of whether they should do it at all.
MY FATHER WORKED TWO JOBS SO HE WOULD HAVE ENOUGH MONEY TO THROW IN THE MONEY HOLE
It’s fine SpaceX is pretending to be an AI company (the home of MechaHitler) so won’t have the pennies left to gets it’s space Vaporizing Centers launched (honestly more feasible than data centers).
🤞maybe this can all end with Saudis releasing footage of Elon moonwalking when the realize there’s no money left for the line due to Twitter.
I genuinely am having a hard time believing this because the image looks like it was generated… The kind of reality the .01% has shoved us into.
It was definitely generated by AI.
There’s some serious irony here. The exact type of irony that is distinct to the people forcing the corruption tool’s existence.
Ugh, those hedgehog smileyfaces can fuck all the way off
The image is ai generated, but the numbers from Nikkei aren’t
That’s because it’s from Gadget Review, a website that looks like it uses AI to generate graphics and (at least) augment its articles.
The original article is at least helpfully linked at the top:
https://asia.nikkei.com/business/technology/five-us-tech-giants-hidden-debts-soar-to-1.65tn-on-opaque-ai-funding
Edit: I see Gadget Review pop up more and more and I’ve started liking their content less and less. The editorial guidelines say they use AI right on the page you linked. And if I scroll down and click on a random article , it’s AI generated and based on a tweet by CSAM poster Dom Lucre. It’s not the first article I’ve seen that’s basically repeating a tweet from some extreme looking Twitter account either.
Would be interesting to include anthropic, openai etc in this list
They’re not public and aren’t forced to report these numbers. But yeah the amount of hidden debt in AI is much higher.
Also nvidia
This shit led to the Great Depression… I guess it’ll be a Greater Depression, just on figures alone.
C’mon! With Trump in charge, it has to be The Greatest Depression!
“Yes, this is The Greatest Depression. Nobody has ever seen anything like it. Even the best economists, very smart people, they say to me ‘Donald, Mr President, who could know?’ Nobody could have known this would happen, but they tell me it was caused by Biden. Or Obama. I’ve also asked the FBI to check Hillary’s emails and Hunter’s laptop.”
“They said it could never happen. It could never be done. But I did it. First one in history to trigger such a great depression. The greatest depression.”
great depression led to a ww2, is there please some chance to please not start ww3 please
Yeah. Revolution now. We need to fucking build a parallel internationalist power structure and just freeze out the billionaires from the economy. Fuck the UN, we make our own with black flags and snooker. It’s up to us to define what it means to be an adult.
Two of the three most powerful nations are involved in wars of aggression and the third is backing them up. I would say we are pretty much there already.
The US is at war and China is not. The third most powerful country would be India and afaik they are not at war right now.
Is there like a checklist for us being in world war three already?
This is why they want to get into your 401(k)s & pension funds. Don’t let them.
Oh, I won’t.
Mostly because I’m 42, and have no 401k, or pension.
I’m clutching my 10k tightly. They won’t be getting my future 2 weeks of groceries!
deleted by creator
tldr; They used “special-purpose vehicle” to hide the debt. Accounting’s version of “anal doesn’t count, silly”.
I am actually thinking ask of these companies imploding would be good for the human race.
Imagine a solid hard reset on the internet? Yes please.
Will this fuck me over yes, but that will be temporary
We gotta start building alternatives already. Us being here on Lemmy is already a start.
I don’t know why, but I read this as “Five Guys” and thought holy shit I didn’t realize a burger company could be so broke. No wonder their prices are so high!
The AI bubble will pop within the next couple of months. It’s pretty interesting, I wonder if we’ve ever seen an economic bubble so clearly before it comes to an end.
Every crypto bubble?
A Nikkei analysis of financial footnotes at Alphabet, Microsoft, Amazon, Meta, and Oracle found $1.65 trillion in off-balance-sheet obligations tied to AI infrastructure — binding, must-pay commitments parked in the fine print.
…a company creates or partners with a separate legal entity — a special-purpose vehicle (SPV) — that borrows the money and owns the assets. The tech company signs long-term leases or capacity contracts but doesn’t record the SPV’s debt on its own books.
What stops them letting the investment vehicle crash and burn though? It’s a lender problem more than one for the tech companies?
Nothing.
That is one way of saying upcoming lease contracts and purchase commitments reported according to IFRS and IAS and disclosed on financial statements.
Five companies owe more money than their balance sheets admit. A Nikkei analysis of financial footnotes at Alphabet, Microsoft, Amazon, Meta, and Oracle found $1.65 trillion in off-balance-sheet obligations tied to AI infrastructure — binding, must-pay commitments parked in the fine print
Good thing I don’t invest in these big names, not only because of overvaluation but also because of corruption. My mom told me to be careful with investing because companies go bankrupt but i kinda dismissed her concerns because I am thinking that the days of Enron accounting magic is over. But it looks like it’s still alive and well. Although I doubt executives will be held accountable.
Makes sense. Oligopolies collude. No news there.
I’m not a finance wiz but would that mean these 5 companies are carrying around 3 trillion total debt? My bank won’t even let me owe them 20 bucks without penalties.
If you owe the bank $100, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.
I mean, that quote maybe needs to be updated for inflation, but you get the idea.
If you have a credit card then you can owe a bank 20 dollars, so…
140 + 100 + 180 + 100 + 30 does not equal 1350. Not even close. Impossible to put any kind of trust in AI slop
I am not sure how much to trust this article but what they have been doing is not concealed at all.
They are literally passing the money in a big circle so it looks like actual revenue.
I feel like I’m taking crazy pills that the established marketplace hasn’t already torpedo’d the fuck out of it.
They have been spending money like water to try and build data centers but doing such a terrible fucking job of it that they have just managed to piss off every landowner in America because their way of doing business is, “Trust me, bro”, then shitting all over the towns they build in, because they think somehow the towns should be grateful that XYZ has a data center there that doesn’t absolute fuck all for the actual community.
The demand is so high that tech bros are coming out of the woodwork, just like the dotcom era, trying to get a piece of this pie, but then these tech bros are the reason these large companies are shitty at their job. They don’t understand that rural America isn’t smoking the jerk off crack that they use to convince middle management to slave for them.
They look at “stakeholder engagement” as some sort of bankrupt woke ideology, then wonder why cities, counties, and states are legislating moratoriums on data centers.
They see the money these idiots are throwing at the problem and just want a piece of the pie. They don’t think, “Ooh, I can do that better, faster, stronger…” They think that the want a piece of that revenue. They think they can put together some data center EPC, maybe even with an electric generating component, then turn around and sell the EPC company.
It is snake oil salesmanship from top to bottom.
Every single motherfucker actively trading on these guys are part of the problem.
AI is not the problem, it is the tech bros selling it.
They should all be buried alive in concrete. They are so delusional they don’t even think they are doing anything wrong.
‘smoking the jerk off crack’ is going in my lexicon.
